‘We get the living daylights taxed out of us’: How billionaires like Elon Musk avoid taxes on their massive wealth
View original at finance.yahoo.com‘We get the living daylights taxed out of us’: How billionaires like Elon Musk avoid taxes on their massive wealth ALLISON ROBBERT / Getty Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below…
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By borrowing against appreciated stock instead of selling, investors avoid realizing capital gains while keeping assets compounding
80% confidenceTax avoidance is a key skill to building wealth
80% confidenceThe optimal wealth strategy is to invest, borrow against assets, die, place assets in a trust, and pass them to heirs
80% confidenceAmericans are taxed on what they earn, what they buy, and what they own
80% confidenceBuilding wealth creates an obligation to pay as little tax as possible, legally, similar to a prisoner of war's obligation to escape
80% confidenceWealthy investors should use the buy-borrow-die strategy: buy stocks, never sell, borrow against them, then pass to heirs via trust
80% confidenceAmericans are overtaxed and much of government spending goes toward things citizens disagree with
80% confidenceTax avoidance is a key skill to building wealth
80% confidenceKiyosaki owns hotels and 15,000 rental properties and makes a lot of money while paying no taxes
80% confidenceAmericans are over-taxed and government spending does not align with taxpayers' preferences
80% confidenceReal estate investors using debt can legally pay no taxes due to interest deductibility and other benefits
80% confidenceKiyosaki is carrying $1.2 billion in debt
80% confidenceAmericans face multiple layers of taxation on earnings, purchases, and property ownership
80% confidenceBorrowing against appreciated stock rather than selling avoids capital gains tax while allowing continued compounding
80% confidenceGovernment should be reduced in size so that people can keep more of their money
80% confidenceThose trying to build wealth have an obligation to legally pay as little tax as possible
80% confidenceGovernment size should be reduced so people can keep more of their hard-earned money
80% confidenceKiyosaki is carrying $1.2 billion in debt
80% confidenceReal estate investors can legally use debt to pay no taxes, through deductible interest payments that offset cash flow
80% confidenceKiyosaki owns hotels and 15,000 rental properties, makes a lot of money, and pays no tax
80% confidenceThe primary wealth-building tax strategy is to buy stocks, never sell them, and borrow against them to access liquidity
80% confidence